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Ontario's accounting profession unites under CPA designation

Today, the Chartered Professional Accountants of Ontario and the Certified General Accountants of Ontario signed a unification agreement, the second last step to uniting this province's accounting profession ... Facebook Twitter Pinterest

Today, the Chartered Professional Accountants of Ontario and the Certified General Accountants of Ontario signed a unification agreement, the second last step to uniting this province's accounting profession under the CPA designation, bringing to a close significant collaboration and dedication to building a stronger unified accounting profession, both within this province and across Canada. (CNW Group/Certified General Accountants of Ontario)

The Chartered Professional Accountants of Ontario logo (CNW Group/Certified General Accountants of Ontario)

UnificationFactSheetJune232014.pdf

Bringing together 80,000 designated accountants to build a stronger future

TORONTO, June 23, 2014 /CNW/ - Today, the Chartered Professional Accountants of Ontario and the Certified General Accountants of Ontario signed a unification agreement, the second last step to uniting this province's accounting profession under the CPA designation. The final step will be the passing of a new Chartered Professional Accountants Act.

The signing of this agreement brings to a close a significant amount of collaboration and dedication to building a stronger unified accounting profession, both within this province and across Canada, all of which began in earnest in the spring of 2011. Ontario's certified general accountants will now become members of CPA Ontario.

An earlier agreement was signed between CPA Ontario (formerly the Institute of Chartered Accountants of Ontario) and the Certified Management Accountants of Ontario, leading to CMAs becoming members of CPA Ontario in April, 2014.

A united Canadian accounting profession will have a stronger voice at home and around the world, a single Canadian accounting designation, and one rigorous set of standards for qualifications and conduct - all of which will provide strong protection of the public interest.

"Our combined membership of more than 80,000 is now part of a unification movement that represents all of Canada's more than 185,000 designated accountants," said Robert Scullion, FCPA, FCA, the chair of CPA Ontario. "This is a significant achievement, one which brings the opportunity for a united accounting profession to speak on behalf of the public interest and its members."

In total, 74 per cent of CPA Ontario members who voted supported unification, while 97 per cent of CGA Ontario members who voted also favoured unification.

"This is an exciting milestone for the accounting profession in Canada," said Edward Carter, FCGA, the chair of CGA Ontario. "We will now work together to build a unified accounting organization on the foundation of the significant work completed by the three legacy accounting bodies."

The leadership of CPA Ontario and CGA Ontario will now begin to integrate the organizations. As the final step to complete the unification of the accounting profession, CPA Ontario will seek a Chartered Professional Accountants Act from the Province of Ontario to replace the current acts overseeing the current designations.

The Chartered Professional Accountants of Ontario is the qualifying and regulatory body of Ontario's more than 80,000 CPAs and CPA students. The Chartered Professional Accountants of Ontario serves the public interest by developing, monitoring and enforcing the highest standards of professional competence and ethical conduct. Chartered professional accountants are valued by organizations for their financial expertise, strategic thinking, business insight, management skills and leadership. For information on the profession, visit www.cpaontario.ca. To become a CPA in Ontario, visit www.gocpaontario.ca.

Image with caption: "Today, the Chartered Professional Accountants of Ontario and the Certified General Accountants of Ontario signed a unification agreement, the second last step to uniting this province's accounting profession under the CPA designation, bringing to a close significant collaboration and dedication to building a stronger unified accounting profession, both within this province and across Canada. (CNW Group/Certified General Accountants of Ontario)". Image available at: http://photos.newswire.ca/images/download/20140623_C1744_PHOTO_EN_3854.jpg